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PAXAFE is a technology company.
PAXAFE has raised $11.0M across 2 funding rounds.
Key people at PAXAFE.
PAXAFE has raised $11.0M in total across 2 funding rounds.
PAXAFE develops a logistics orchestration and decision intelligence platform designed to reduce product loss and enhance operational efficiency within cold chain and high-value cargo supply chains. The platform leverages AI and a data-agnostic approach to provide end-to-end visibility, predictive intervention, and automated workflows for proactive management.
Co-founded by Ilya Preston, with a background in management consulting and supply chain, and Ashok Seetharam, the company emerged from the critical need to address prevalent inefficiencies and product loss in temperature-controlled logistics. Their insight focused on transforming data overload into actionable intelligence, moving beyond basic visibility for comprehensive decision support.
PAXAFE serves cold chain manufacturers and logistics service providers in pharmaceuticals, life sciences, and perishable goods. The company aims to establish a trusted layer for temperature-controlled logistics, empowering customers to simplify monitoring, minimize alert noise, and make informed decisions that optimize supply chain performance.
Key people at PAXAFE.
PAXAFE has raised $11.0M in total across 2 funding rounds.
PAXAFE's investors include Framework Venture Partners, BDC Venture Capital, gener8tor, Homebrew, M12, Ubiquity Ventures, Uncork Capital, AngelList, Elevate Ventures, Gaingels, Mana Ventures, Rosecliff Ventures.
PAXAFE is a venture-backed SaaS technology company founded in 2018 that builds an AI-powered risk management platform called CONTXT for cold chain and high-value supply chain logistics.[1][2][5] It serves pharmaceuticals, life sciences, food and beverage perishables, 3PLs, carriers, and insurance providers by predicting adverse events, automating monitoring, providing routing/packaging recommendations, and minimizing product loss through IoT, telematics, ERP, and third-party data integration.[1][2][4][5] The platform solves critical problems like shipment spoilage, inconsistent carrier performance, high manual intervention costs, and lack of real-time visibility, enabling proactive decisions that cut losses and boost efficiency—demonstrated by 330% year-over-year revenue growth and a $9M Series A in 2024.[2][3]
With 32 employees in Indianapolis, Indiana, and $6.7M in revenue, PAXAFE leverages its ATHENA LLM for autonomous decision support, recently expanding with LOGIX for risk scenario comparisons and partnerships like Upsolve AI to accelerate dashboard development by 20-35% in time and cost.[2][3]
PAXAFE was founded in 2018 in Indianapolis by co-founders Ilya Preston (CEO) and Ashok Seetharam (CTO), emerging from the need to address persistent disruptions in temperature-sensitive supply chains like pharmaceuticals and perishables.[1][3] Preston, with prior experience as VP of Sales and Marketing at ABB automating global supply chain nodes (marine/rail terminals, logistics hubs) across regions including Southeast Asia, Europe, and North America, brought expertise in edge devices like GPS, ELDs, RFID, and sensors.[1] Seetharam, as CTO, has driven technical innovations including AI integrations with tools like Upsolve AI for rapid analytics dashboards.[3]
The idea crystallized amid growing supply chain vulnerabilities, shifting from reactive data loggers to predictive AI that intercepts risks pre-shipment. Early traction built on device-agnostic scalability, leading to rapid adoption; a pivotal moment was the 2024 $9M Series A funding after 330% revenue growth, fueling hires for real-time visibility demands.[1][2]
PAXAFE rides the AI-driven supply chain resilience wave, amplified by post-pandemic disruptions, climate volatility, and rising cold chain demands for pharma/perishables amid global trade complexities.[1][4] Its timing aligns with IoT proliferation and LLM advancements, turning overwhelming data into proactive tools—critical as enterprises face unrelenting risks in temperature-controlled logistics, where traditional methods fail.[1][5]
Market forces like escalating spoilage costs, carrier inconsistencies, and insurance needs favor PAXAFE's B2B de-risking, influencing the ecosystem by setting a "trust layer" standard: enabling 3PLs/insurers to automate, reducing waste, and pushing competitors toward predictive AI over reactive monitoring.[2][4] As a Series A player, it accelerates adoption of autonomous logistics tech, partnering for embedded analytics to deepen enterprise visibility.[3]
PAXAFE is poised to dominate cold chain AI with CONTXT expansions like LOGIX and strategic hires, targeting further revenue scaling post-$9M Series A amid 330% growth momentum.[1][2][3] Trends like edge AI proliferation, regulatory pressures on pharma traceability, and sustainability-driven waste reduction will propel it, potentially evolving into a full-stack logistics intelligence leader influencing carrier selection and insurance models globally. As supply chains demand preemptive intelligence, PAXAFE's data-agnostic edge positions it to unlock billions in trapped value from existing visibility tools.[5]
PAXAFE has raised $11.0M across 2 funding rounds. Most recently, it raised $9.0M Series A in May 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| May 1, 2024 | $9.0M Series A | Framework Venture Partners | BDC Venture Capital, gener8tor, Homebrew, M12, Ubiquity Ventures, Uncork Capital, AngelList, Elevate Ventures, Gaingels, Mana Ventures, Rosecliff Ventures, Venture 53 |
| Apr 1, 2021 | $2.0M Seed | Ubiquity Ventures | Homebrew, Uncork Capital |